Which of the Following Is the Best Definition of Economics

question 53

Multiple Choice

Which of the following is the best definition of economics?  

• A) It studies human behaviour when scarcity exists and choices must be made. 
• B) It provides the only reasonable explanation of how people make decisions. 
• C) It can accurately explain all human behaviour because it is based on the assumption of rationality. 
• D) It is the only social science that can explain the existence and behaviour of public institutions.

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Definitions:

Fatty Acids

Long-chain hydrocarbons found in fats and oils, serving as major sources of energy, components of cell membranes, and precursors for bioactive signaling molecules.

Glycerol

A simple polyol compound that forms the backbone of triglycerides, which are the main constituents of body fat in humans and other animals.

Nucleotide

The basic building block of nucleic acids, such as DNA and RNA, consisting of a base (adenine, cytosine, guanine, thymine in DNA; adenine, cytosine, guanine, uracil in RNA), a molecule of sugar (deoxyribose in DNA and ribose in RNA), and a phosphate group.

Base

A substance that accepts protons from acids according to the Brønsted-Lowry acid-base theory and has a high pH in solution.